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Morning Market Report for Tuesday June 19, 2018

June 19, 2018

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Calendar

 


Economic News

  • U.S. housing starts jump to near 11-year high but permits fall – Housing starts vaulted 5.0 percent in May amid an acceleration in both single-family and multi-family home construction. But building permits fell 4.6 percent to a rate of 1.301 million units, the lowest level since September 2017. The second straight monthly drop in permits suggested housing market activity would remain moderate.
  • Trump Seeks Additional $200B In Tariffs Against China – It’s the latest development in escalating trade tensions between the world’s two largest economies. On Friday, the U.S. announced a 25% tariff on up to $50 billion of Chinese products, prompting Chinese President Xi Jinping’s administration to respond with a 25% tariff on $34 billion of U.S. goods.

 


Major Index Futures

  • Overall Summary –  The markets were split today as the Nasdaq recorded a new high while the Dow closed lower.
  • S&P 500 futures the S&P 500 lost -0.21%resistance at 2,800 and support at 2,700
  • Dow 30 futures the Dow closed down -0.41%, resistance at 25,350 and support at 23,850
  • Nasdaq Composite The Nasdaq ended basically flat,  pushing up against resistance at 7,750 and support at 7,250
  • SmallCap 2000 futures – ended the day up 0.51%, pushing up against resistance near 1700 and support at 1580
  • Key Index Futures (Updated 6 days a week 23 hours a day) Interactive Charts
  • Futures for the Nasdaq 100 Futures differ in price but not action from the Nasdaq 5000 Index.

 

  • Interactive Charts – 
  • The charts below are for the futures so that you can have a head start on the market before it opens.

 


Commodities

  • Gold  – bearish gold broke support at 1300 and is falling hard this morning
  • Silver – sideways, silver tested resistance at 17 and is now selling off this morning
  • Crude Oil Crude broke support is and selling off. Could oil go back down as low as 60?
  • Natural Gas – retracing after a false breakout above 3.o
  • Key Commodity Futures

 

  • Interactive Charts

 


Sectors

  • The below are snapshots of the last two months of sector performance as well as dynamic charts. 
  • Bullish  – Real Estate (XLRE), Technology (XLK), and Consumer Discretionary (XLY) are the strongest 
  • Bearish – Consumer Staples (XLP) and Utilities (XLU) are the weakest sectors

 

  • The chart below compares the last 20 days of sector performance in an easy to see chart. 
    • Interactive Major Sector ETF’s
  • My Current Favorite Key Industries ETF Charts 

 


Currencies

    • USD – $94.75 –  Bullish
    • The Charts Below are 3-Month Daily

 

 

 

 

 


Cryptocurrencies

  • Overview –Cryptocurrencies rallied on Tuesday, with Bitcoin rising to a one-week high while in other news, UBS chief Sergio Ermotti praised Blockchain technology.
  • Below are charts for
    • Bitcoin 
    • Ethereum 
    • Ripple, and
    • Litecoin 

 


Tackle Trading 25

      • Welcome to the new Tackle Trading Covered Call List for 2018
        • For Slightly Bullish Trends
          Naked Puts, Covered Calls, and for stocks over $100 Bull Put Spreads
        • For Neutral Trends
          – Iron Condors are great for stagnant stocks
        • For Slightly Bearish to Trends 
          – deep-in-the-money covered calls or Bear Call Spreads for stocks over $100
        • (be careful with overly aggressive directional trades like Shorting or buying Puts)

 

 


Final Trading Thoughts:

  • Bearish Market Bias – Markets gap down this morning as Trump and China escalate their trade war.
  • Good luck traders.

 


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Hector Duenas Jr. started his trading journey during the height of the tech bubble in 2001 as part of the 90% that loses money in the stock market.

A Rich Dad conference in 2016 changed his life and now he writes the Morning Market Reports, the Market Scoreboard, blogs, and appearances on the Coaches Show and the Cashflow Club for Tackle Trading. Hector specializes in cash-flow strategies such as Covered Calls on the Tackle 25 Watchlist, the Personal Gold System, Cashflow Condors, and speculating on Futures.

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